Analysis

The 300 richest people in the world are treasuring more than the 3 billion of poor

The 300 largest fortunes in the world accumulate more wealth than the 3 billion of poor.
So says Professor Jason Hickel of the London School of Economics, advisor of the movement The Rules, fighting inequality, and author of a video called 'The World Wealth Inequality'.
"We quote these figures because it offers a clear comparative and impressive, but in reality the situation is even worse: the 200 richest people have about 2.7 trillion dollars, and that is much more than what they have 3.500 million people, having a total of 2.2 trillion dollars, "says the economist.
Jason Hickel notes that his movement wants to do more to illustrate "the brutal inequality index" and show that the situation is worsening day by day. Citing a recent study by the NGO Oxfam, the economist stressed that 1% of the richest increased their income by 60% over the past 20 years, with the financial crisis accelerating this process rather than stop it.
In the video 'The World Wealth Inequality', the motion 'The Rules' exposes how this inequality grows over time in different countries. Thus, during the colonial period, the gap between rich and poor countries increased from 3:1 to 35:1. Since then, the gap has increased to a level of 80:1.
According to the economist, the growth of the gap is due in part to the neoliberal economic policies that international institutions like the World Bank, the International Monetary Fund (IMF) and the World Trade Organization (WTO) have imposed on developing countries during the last decades.
"These policies are designed to liberalize markets by force, opening them in order to give to the multinationals an access without precedents to cheap land, resources and labor. But at a very high price, poor countries lose about 500,000 million per year of its GDP," explains Professor quoting the Economist Robert Pollin, University of Massachusetts.
According to Jason Hickel, it is an obvious net flow of wealth from poor places to rich areas. "Governments of rich countries constantly celebrate how much they spend on aid to developing countries and multinational companies check this through annual reports, but neither confesses how much they get from developing countries," says the economist.
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From Actualidad.rt.com

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